For businessmen thinking to cash in on the recreational markets, these are some of the most interesting bets.
A good number of recreational properties in Canada enjoyed year after year price and sales volume-surge, as confirmed by Royal LePage’s Canadian Recreational Housing Report. Besides, there are still hot spots that are home to better investment prospects.
“Looking at Ontario as a sample, it is a very diverse perspective as an investor than as a primary buyer for private use. Nevertheless Ontario, Muskoka are examples that are known by almost everyone. However, it is likewise not inexpensive and essentially the least composed to show noteworthy remunerations,” Kevin Somers, COO, Royal LePage Real Estate Services Limited, declared to CREW.
“There are several other markets like, Collingwood, Honey Harbour, Kawarthas and the Georgian Triangle, which are all more reasonably priced and are within 2 to 4 hours’ drive time from Toronto, that I would hope will be good targets for quick appreciation.”
Markets particularly those exterior to the Greater Vancouver Area and the Greater Toronto Area, are very attractive to current homeowners who have gained from those booming markets and can apply equity transfer for recreational properties, Somers said.
According to Somers, some reasonably affordable choices for recreational properties can equally be found in BC.
“The Sunshine coast can be observed as an example, as the recreational properties are still moderately within reach and just a 40 to 45 minutes ride on a ferry from the Northern shores,” he stated. “Beautiful terrain ever more improved infrastructure and service provisions on the coast. I guess, as an example, it is a flawless target where the current price points appreciation is still to an extent reasonable.”
The report which composed statistics from recreational properties specialists in Canada, found 63% of participants saying prices oscillate year after year in May.
Within the same period, 58% of sales volumes rose year after year and 54% noted falls in inventory levels. This has put price pressure on areas in British Columbia, Quebec and Ontario.
The overall price for recreational properties in Canada was $493.000, then prices differed from province to province. Alberta had the uppermost overall price $816.700, followed by British Columbia $595.100, Ontario $413.000, Quebec $318.700, Saskatchewan $297.200, Nova Scotia $260.700, Manitoba $238.600, PEI $225.500, Newfoundland $191.700 and New Brunswick $179.500.
J C Loum